The Table Below Illustrates That,in One Day,Tristan Can Produce Either

question 77

Multiple Choice

The table below illustrates that,in one day,Tristan can produce either 12 fishing lures or mow 3 lawns,while Thomas can produce either 6 fishing lures or mow 6 lawns. $$\begin{array} { | l | c | c | } \hline & \text { Fishing Lures } & \text { Mowed Lawns } \\\hline \text { Tristan } & 12 & 3 \\\hline \text { Thomas } & 6 & 6 \\\hline\end{array}$$ TABLE 1- 1
-On a diagram of a production possibilities boundary,the concept of scarcity is illustrated by the

• A)area within the boundary.
• B)unattainable points outside the boundary.
• C)points on the boundary.
• D)distance from the origin to the boundary.
• E)negative slope of the boundary.

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Definitions:

Outputs

Refers to the goods or services produced by a company or economy, indicative of productivity or production levels.

Discount Sources

Various origins from which price reductions can be obtained, such as coupons, sales promotions, or bulk buying.

Cost Function

A mathematical formula used to calculate the total cost of production based on the quantity of goods produced.

Used-Car Dealer

A business specializing in the resale of previously owned vehicles, often offering trade-in deals and warranty services.